The buying continued this week, with all grains posting healthy gains. Beans continued their rally and are up $1.80 per bushel from Aug. 10. Several reasons for the huge run up are the low potential yields, big purchases by China and possible adverse weather in South America during their upcoming growing season.
Corn seems to be along for the ride. There have been some nice export sales, but corn yield potential looks pretty good at this point.
Early harvest reports
As the corn harvest begins, early observations suggest that areas that looked very good in July haven’t been impacted much by the late August heat. Even the areas that were dry in both July and August are seeing yields generally in line with what farmers were expecting.
Early bean harvest reports are limited and show wide-ranging yields. So far, many farmers are disappointed with early yields, a few say it’s better than average.… Continue readingRead More »